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Mar 9, 2013

Venture firm CMEA sued for sexual harassment, retaliation

SAN FRANCISCO, March 8 (Reuters) – Three executive
assistants are suing venture firm CMEA and one of its former
partners for harassment and retaliation, marking the third
lawsuit in less than a year alleging unfair treatment of women
in Silicon Valley’s clubby world of venture capital.

The suit, filed in San Francisco Superior Court of
California last month, alleges then operating partner John Haag
repeatedly made inappropriate sexual comments to the women,
sometimes in front of other partners who mostly did nothing to
stop his behavior.

Mar 8, 2013

Sandberg’s hot-button book rings true for Silicon Valley women

SAN FRANCISCO, March 8 (Reuters) – Facebook executive
Sheryl Sandberg is taking a drubbing for prescribing from a
privileged perch the keys to female success in her upcoming book
“Lean In,” but she’s struck a chord among many in her backyard.

In her own technology sector, women remain woefully
underrepresented in leadership roles, even more so than in
fields generally considered heavily male-dominated like
financial services. Sandberg’s willingness to tackle the issue
of women and leadership is drawing plaudits from many in Silicon

Mar 7, 2013

Venture capital firm Matrix nabs young star from Square

SAN FRANCISCO, March 7 (Reuters) – Venture capital firm
Matrix Partners said it had hired 28-year-old Jared Fliesler, an
executive at the mobile-payments company Square, as general

Matrix had been talking to Fliesler for about the last year,
said general partner Dana Stadler, who believes Fliesler will be
able to give good advice to early-stage companies, Matrix’s
focus area.

Mar 5, 2013

Venture capital kingpin Kleiner Perkins acknowledges weak results

SAN FRANCISCO, March 5 (Reuters) – Blue-chip venture-capital
firm Kleiner Perkins Caufield & Byers expressed frustration with
poor fund performance and promised to do better at gatherings
for investors last month, according to people familiar with the

The firm, which has lost some of its shine recently due in
part to hefty bets on green energy technology and a lack of
home-run Internet investments, said it would be more careful
with capital and redouble its efforts to boost performance.
Several investors who received invitations to the meetings said
it was unusual for Kleiner Perkins to hold such gatherings when
it was not raising new funds.

Feb 28, 2013

Yahoo telecommute ban is much ado about nothing -Silicon Valley

SAN FRANCISCO, Feb 28 (Reuters) – Yahoo Chief
Executive Marissa Mayer’s decision to ban telecommuting sparked
outrage around the country, but left many in Silicon Valley
wondering what the fuss was all about.

Working from home is common enough in the Valley, but that
is in addition to – not instead of – the 40-plus hours spent
working in the office. Despite the area’s image as a
freewheeling space that makes much of the technology that allows
people to work remotely, Bay Area workers tend to head into the
office, especially at start-ups.

Feb 28, 2013

Most new US businesses founded by people 40 and older -survey

SAN FRANCISCO, Feb 28 (Reuters) – The word “startup” might
convey a technology-oriented company founded by a 20-something,
but the reality is very different, according to a report from
the Kauffman Foundation and the online service LegalZoom

Most new businesses are founded by people aged 40 and older,
and consulting is the single biggest business category,
according to the report issued on Thursday, which was based on a
survey of new business owners.

Feb 26, 2013

Former Square executive Rabois to join Khosla Ventures

SAN FRANCISCO, Feb 26 (Reuters) – Keith Rabois, the
executive whose sudden exit from mobile payments company Square
became the talk of Silicon Valley, will join Khosla Ventures in
March, the firm said on Tuesday.

Speculation has swirled around where Rabois would ultimately
land. He left Square last month, citing legal threats from a
young colleague with whom he had maintained a two-year
relationship. He had served as Square’s chief operating officer
since 2010.

Feb 12, 2013

Neighborhood network Nextdoor raises $21.3 million

SAN FRANCISCO (Reuters) – Neighborhood social network start-up Nextdoor has raised another $21.3 million, even as many investors shy away from the sector in the wake of troubled Facebook initial public offering last year.

The new funding includes $15 million from Greylock Partners, whose partner David Sze will be joining Nextdoor’s board. Sze, known for his involvement in networks LinkedIn and Facebook in their earliest days, said he has never before invested so much in a single investment round.

Feb 11, 2013

Square scandal highlights growing pains at tech start-ups

SAN FRANCISCO (Reuters) – When Square Chief Operating Officer Keith Rabois left his job last month, citing legal threats from a young colleague with whom he had a two-year relationship, he threw a spotlight on the risks associated with the freewheeling startup culture that many entrepreneurs cherish.

Startups often thrive on a lack of rules and boundaries. But experts say that as they make the transition from a handful of people in a room to sizeable businesses, the hazards of operating without manual – including lawsuits, reputational hits, and waning employee morale – grow exponentially.

Feb 5, 2013

University must disclose venture capital returns-court

SAN FRANCISCO, Feb 4 (Reuters) – The University of
California must make public the closely guarded performance of
some top-tier venture capital funds in which it has invested a
portion of its $10.65 billion endowment, a judge said on Monday.

No information on the funds, managed by Kleiner Perkins
Caufield & Byers and Sequoia Capital, will come out immediately.
The court is giving the university a stay until March 11 to
allow the regents a chance to appeal.